Nation Current Affairs 23 Feb 2017 Notice to Jagan firm ...

Notice to Jagan firms ‘symbolic’: Enforcement Directorate

DECCAN CHRONICLE.
Published Feb 23, 2017, 12:51 am IST
Updated Feb 23, 2017, 7:50 am IST
Counsel for the ED said that they have not violated the orders of the court or the appellate tribunal.
Jagan Mohan Reddy
 Jagan Mohan Reddy

Hyderabad: The Enforcement Directorate authorities on Wednesday informed the Hyderabad High Court that it has issued notices Bharathi Cements Corporation Ltd owned by YSR Congress president Y.S. Jagan Mohan Reddy and other companies for symbolic possession of properties attached in the illegal investments case.

Justice A. Ramalingeswara was disposing of petitions by Bharathi Cements and others, challenging the notices issued by the ED to take possession of attached properties.

 

P.S.P. Suresh Kumar, counsel for the ED, while placing the counter-affidavit before the court, submitted that they have not taken possession and that it was only a notice under Section 5(2) of the PMLA Act for symbolic possession.

He told the court that the physical possession would be taken after the disposal of appeals of the petitioner companies pending before the Appellate Authority of ED.

S. Sriram, counsel appearing for Classic Realty Ltd, one of the petitioner companies, said that the action of the ED was in contrary to orders of the division bench of this court and orders of a single judge and also orders of the appellate tribunal of ED on February 7, 2017 directing status quo.

 

Reacting to the arguments, counsel for the ED said that they have not violated the orders of the court or the appellate tribunal. While stating that at this juncture no orders were required in the petitions, the judge closed the matter.

...
Location: India, Telangana, Hyderabad




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